Topic: Freaking irritating! (Read 380 times)
Founder Ethdelta agreed to pay $300,000 in disgorgement, along with $13,000 in prejudgment interest and a $75,000 penalty, though he has not admitted or denied the SEC’s findings. The SEC only regulates strictly and earns money from it all, they are targeting businesses that run and make a lot of money. Get out of America and reject all of its citizens in the crypto world.
I am more than sorry for this, but it was obviously going to happen.
That is why IDEX is taking more and more regulations now
It had to happen at some point, it was a decentralized exchange that is not taking care of who is buying something in there
That is why IDEX is taking more and more regulations now
CCN: Breaking: SEC Charges EtherDelta Founder with Operating Unregistered Exchange.
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
It had to happen at some point, it was a decentralized exchange that is not taking care of who is buying something in there
Looks like its the turn for decentralized exchanges now and they will be under the line of fire from now on by the regulators, although the decentralization itself is under threat but regulation has always proven to be good if we want crypro to be legal and registered.
CCN: Breaking: SEC Charges EtherDelta Founder with Operating Unregistered Exchange.
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
There are many unregistered trading floors in this market but the SEC has not found it yet. This is a free market and it would be a great advantage if the SEC and the government did not participate in our market. We make money through the same illegal business as EtherDelta. https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
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Youre right about that and this is why I hate something that have to do with the government because they never the act of misusing their power and if you look closely they are trying to control crypto currency market cause I could remember correctly that the only thing that brought them into crypto market was the scammed act going on in ICOs.
Why are they no implementing the solution to force out fake ICOs out of the market instead of chasing after exchanges site?
CCN: Breaking: SEC Charges EtherDelta Founder with Operating Unregistered Exchange.
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
There are many unregistered trading floors in this market but the SEC has not found it yet. This is a free market and it would be a great advantage if the SEC and the government did not participate in our market. We make money through the same illegal business as EtherDelta. https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
This is alarming. This will cause raucous on other decentralized exchange. I trade on decentralized exchage because its easy to trade and its easier for altcoins to be listed and traded right after ICO.
Why don't they just focus on cryptocurrency ICO regulations so they can filter out and stop those ever growing scam ICOs. I will be one of the first to support them at that.
Why don't they just focus on cryptocurrency ICO regulations so they can filter out and stop those ever growing scam ICOs. I will be one of the first to support them at that.
CCN: Breaking: SEC Charges EtherDelta Founder with Operating Unregistered Exchange.
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
Yes, that is quite a punch, not to Etherdelta, as that is not that big of a fine for them, but for the crypto industry.
Thus, they will control decentralized exchanges, as you will be needed to do KYC. I guess swap services, such as Bancor may benefit from that a lot.
CCN: Breaking: SEC Charges EtherDelta Founder with Operating Unregistered Exchange.
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
wow, it looks like the SEC does not participate in the crypto market but they still enforce the law outside the market. That is a dangerous thing. We need to be careful with the trading floors and need to analyze and learn more thoroughly about the trading platform that is sure to be safe for us.https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
It would be better for retail investors to track and find scam exchanges, not these well working. Honestly, I think SEC looks for its place in a quite new market of crypto, and tries to test its enforcing power here.
CCN: Breaking: SEC Charges EtherDelta Founder with Operating Unregistered Exchange.
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
This is first test how decentralized this exchange is. If it will somehow cease to exist then is not that decentralized.
I don't think that we have any truly decentralized exchanges as of yet. I do suspect that in time we'll have an exchange that has no entity controlling its development, maintenance etc. Hopefully some sort of open source exchange in which all users are in control of their own funds and the trades that they execute. A lot of DEX's currently are more like hybrids between a centralized and a decentralized exchange, mostly around the fact that they don't hold users funds.
I have an obvious conflict of interest here, but I've spent the last 4 years working on the Blocknet, which meets the requirements for a completely decentralized exchange.
Quick summary:
To decentralise an exchange, at a minimum you have to decentralize the four core functions of an exchange:
- capital storage
- order broadcast
- order matching
- settlement
Over and above that, you certainly need:
- open source code
- no company or central legal entity
- globally distributed community of developers
- no entity with control over trades
- no central control over listings
We've done all of this.
Check out https://blocknet.co
CCN: Breaking: SEC Charges EtherDelta Founder with Operating Unregistered Exchange.
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
This is first test how decentralized this exchange is. If it will somehow cease to exist then is not that decentralized.
I don't think that we have any truly decentralized exchanges as of yet. I do suspect that in time we'll have an exchange that has no entity controlling its development, maintenance etc. Hopefully some sort of open source exchange in which all users are in control of their own funds and the trades that they execute. A lot of DEX's currently are more like hybrids between a centralized and a decentralized exchange, mostly around the fact that they don't hold users funds.
The truth is that all the exchanges in the crypto space at the moment are centralized and they're prone to government regulations like the SEC. So even all the DEXes are not truly decentralized and are there not immune to regulations. Let's see how Etherdelta comes out of this unscathed.
CCN: Breaking: SEC Charges EtherDelta Founder with Operating Unregistered Exchange.
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
This is first test how decentralized this exchange is. If it will somehow cease to exist then is not that decentralized.
You simply cant shot down a truly decentralized exchange. I believe none thru decentralized exchange exist right now. Closest to it is BisQ. Most of other DEX that were founded thru ICOs are totally centralized and can be closed by governments all around the world in a second. BisQ is working hard for 4 years now. Without any ICO or anything. But this is a really tough challenge.
The SEC is just an instrument to rob money form people. Every time a company or business gets large and they see people profiting, they will do whatever it takes to shut it down and rob people of their livelihoods. All I can say right now is that I am glad I no longer live in the U.S. Twice the SEC ruined my livelihood to the point of near homelessness, so am happy I left a few years ago, moving to Europe was the best thing I ever did so far.
CCN: Breaking: SEC Charges EtherDelta Founder with Operating Unregistered Exchange.
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
This is first test how decentralized this exchange is. If it will somehow cease to exist then is not that decentralized.
CCN: Breaking: SEC Charges EtherDelta Founder with Operating Unregistered Exchange.
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
wow, it looks like the SEC does not participate in the crypto market but they still enforce the law outside the market. That is a dangerous thing. We need to be careful with the trading floors and need to analyze and learn more thoroughly about the trading platform that is sure to be safe for us. https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
CCN: Breaking: SEC Charges EtherDelta Founder with Operating Unregistered Exchange.
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
Yes definitely. What's really bothering is the future crackdowns of other decentralized exchange. I wonder what IDEX would feel now. Hopefully they are not also going to have the same fate.
CCN: Breaking: SEC Charges EtherDelta Founder with Operating Unregistered Exchange.
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
this explains why crypto prices have suddenly declined after few days of bullrun. sob
is etherdelta operating under US governance? if etherdelta is registered somewhere overseas, then I think US SEC has no authority to be charged. at most, its site may be blocked in US territory. 
To sustain in this crypto world all roads will lead to securities and regulations. As many of the scam coins and scam projects arises each month and it is much better to protect the investors' money. All the investors' wants are assurance and security of their investments and that's why the government is trying to help for this could be a good benefit for the crypto market as a whole not only to decentralized exchanges but also a strict regulation for any upcoming and existing crypto projects.
I'm not sure the SEC clamping down on exchanges is the best way to go. I mean there are scam projects out there in the space, fleecing people of their hard earned money, they should beam their searchlight on those. I guess this like you've said will be the true test of ED as a DEX.
As a test, they have to check all of those exchanges first before going through those scam projects. Those projects won't even be sellable if there's no exchange to be listed. CCN: Breaking: SEC Charges EtherDelta Founder with Operating Unregistered Exchange.
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
https://www.ccn.com/breaking-sec-charges-etherdelta-founder-with-operating-unregistered-exchange/
This is first test how decentralized this exchange is. If it will somehow cease to exist then is not that decentralized
I'm not sure the SEC clamping down on exchanges is the best way to go. I mean there are scam projects out there in the space, fleecing people of their hard earned money, they should beam their searchlight on those. I guess this like you've said will be the true test of ED as a DEX.
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